In other words, you won’t own the car, but rather pay a monthly fee for it, which should help keep costs down for new owners. Additionally, Rowan is betting on Gen Z-ers to make up the bulk of sales for its new baby EV. People who are “18, 19 years old and coming into the car market for the first time and looking for the right price point plus the flexibility, the insurance and roadside assistance that Care by Volvo offers,” the company’s CEO said.
Another thing he mentioned in the interview is that the Geely-owned Swedish company won’t offer battery rental or swapping anytime soon, quoting safety concerns. After selling nearly 700,000 cars worldwide in 2021, Volvo aims to sell 1.2 million vehicles by 2025, with half of those models being fully electric, and half of all transactions to be made online.